Core Insights - The company reported strong, broad-based performance across top-line, profitability, and cash flow in the first half of 2025, despite challenges from high green coffee prices [2][6] - The full-year outlook for 2025 has been raised due to strong performance in the first half and expectations for the second half [5][10] Financial Performance - Organic sales increased by 22.5%, driven by a 21.5% price increase and a 1.0% volume/mix change; reported sales rose by 19.8% [6][10] - Organic adjusted gross profit grew by 2.2%, while reported gross profit decreased by 8.7% [6][13] - Free cash flow amounted to EUR 565 million, with net leverage at 2.5x [6] - Underlying EPS was EUR 1.33, reflecting a 3.4% increase, while reported EPS was EUR 0.86 [6][13] Strategic Initiatives - The company is focused on simplifying its operating model and optimizing resource allocation, including divesting its tea business in Turkey and discontinuing the L'OR Barista machine rollout in the U.S. [3][11] - A new strategy titled "Reignite the Amazing" was unveiled, centered around three key brands: Peet's, L'OR, and Jacobs, aimed at sustainable value creation [4][5] - The company aims to deliver EUR 500 million in savings by the end of 2027, with over 50% of these savings reinvested into growth initiatives [11] Market Conditions - Green coffee prices were over 60% higher in the first half of 2025 compared to the same period last year, leading the company to implement various measures to mitigate cost inflation [9] - The company remains committed to supporting coffee farmers in sustainable practices while delivering high-quality coffee products to consumers [9]